LAKE JACKSON, Texas — Texas Dow Employees CU (TDECU) has launched an iPhone application at Apple's App Store, becoming the first credit union or credit union organization to offer an official iPhone application.
The free TDECU iPhone app, called CULoc8, arrived at the App Store on April 13. TDECU members can download the application to an iPhone and use it to instantly locate the CU's ATMs and 14 branches, as well as surcharge-free ATMs on the AllPoint network and CU Service Centers.
"We want to provide our members who have iPhones with an easy way to look up an ATM or branch where they're on the go or traveling around the country," said Steve Stevens, VP-eCommerce, TDECU, in an exclusive interview with Credit Union Journal.
TDECU Alone At The iTunes App Store
As Credit Union Journal was going to press, TDECU stood alone among CUs at the iTunes App Store, where it resides among locator apps released by big banks and ATM networks. Many credit unions and vendors have told Credit Union Journal they are afraid of putting all their eggs in one basket by developing iPhone-centered applications. But the Journal has learned of at least one other iPhone app from another credit union that will also soon be available.
Developing a TDECU-specific iPhone application was not such a far-fetched idea, said Stevens. Indeed, the app is the CU's response to the soaring popularity of the Apple device, he said. "We've been wondering how we could improve members' wireless connectivity to us. We've also been noticing around the branches that a lot of members have adopted the iPhone. We decided to deliver connectivity through the extremely popular iPhone platform."
The iPhone is the industry's fastest-selling smart phone, and it's what people are using to navigate the mobile Internet, more so than any other device, according to various reports.
CULoc8 is downloaded from the iTunes store about 40 times per day, Stevens added. "I'm sure it will pick up when we start announcing its availability."
The $1.4-billion CU developed CULoc8 in-house, without third-party assistance, said Stevens. Then, in what may seem like an unexpected twist, the CU donated the application to Texas Students United, a local nonprofit offering financial education, he said. CULoc8 currently appears at the iTunes store under the Texas Students United name.
"We wanted to help the nonprofit establish its name and credibility, and we wanted to increase student awareness of TDECU at local universities and high schools," he explained. "These students are the type of member who is using the iPhone a lot." TDECU's membership overlaps with that of Texas Students United, he said.
Going beyond the iPhone to developing a cross-platform application for any smart phone didn't appeal to TDECU, Stevens continued. "It becomes problematic to develop native applications for different platforms, which each have different rules. The iPhone with its popularity seemed to be the obvious first-choice. But we'll see how things go-maybe we could develop a Java-based application that would work across platforms."
Getting Apple's approval for the application wasn't as hard as some say, Stevens said. "Anytime you do something for the first time, you have to learn the rules, of course. It did take a little longer than expected, but it wasn't prohibitive. It took a total of about four months from concept to delivery to the Store, and it wasn't even our highest priority project."
The Apple development technology was "fun to learn" and "very affordable," as well, he said.
How CULoc8 Works
CULoc8 users can provide their location to enable a search for nearby services, or can choose to have CULoc8 look up their address and get directions via GPS. CULoc8 can access location data via the 3G or EDGE mobile networks. "A search on iPhone version 1 will probably take less than 10 seconds, and a search with iPhone 3G will take less than 5, depending on the cellular network," Stevens said.
"It's exciting," said Stevens, after Credit Union Journal told him TDECU was the first CU at the iPhone App Store. "We weren't trying to beat the crowd, just serve the membership."
